Monday, October 24, 2011

A nice follow-through day

Friday was a nice breakout for S&P and Dow, while Nasdaq broke out today. The Russell2000 on the other hand is still staying under it's 08/31 high. Anyway, today was a nice follow-through day, but with big divergences between the major indices. Tech ran much more than S&P500 and Dow, but small caps were outperforming the most.

5m-chart for SPY:

Daily charts for DIA, QQQ and SMH:

Gold and silver weren't moving much, but oil (+4.7%) and copper (+7.2%) were big movers!

I wasn't able to trade or watch my positions on Friday. Both EUO and EDZ got stopped out, EUO near breakeven, EDZ for a loss (after stop-loss was increased).

No new trades, 100% cash at the moment.

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